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Statement of stockholders equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $ 1 4 0 , 0 0

Statement of stockholders equity
Noric Cruises Inc. began the month of October with the following balances: Common Stock, $140,000; Additional Paid-In Capital, $3,500,000; and Retained Earnings, $12,800,000. During October, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $14 per share. Noric reported the following results for the month ended October 31:
Line Item Description Amount
Net income $2,150,000
Cash dividends declared 475,000
Prepare a statement of stockholders equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.
Noric Cruises Inc.
Statement of Stockholders' Equity
For the Month Ended October 31
Line Item Description
Common
Stock Additional
Paid-In
Capital
Retained
Earnings
Total
Balances, October 1
$Balances, October 1
$Balances, October 1
$Balances, October 1
Balances, October 1
Issued Common Stock
Issued Common Stock
50,000
Issued Common Stock
Issued Common Stock
0
Issued Common Stock
Net Income
Net Income
0
Net Income
0
Net Income
Net Income
Dividends
Dividends
0
Dividends
0
Dividends
-475,000
Dividends
Balances, October 31
$Balances, October 31
Balances, October 31
0
Balances, October 31

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